This Pet Health Company Sees Growing Demand For Farm-Animal Products, Cost Savings From Restructuring

Elanco Animal Health Inc (NYSE:ELAN) reported fourth-quarter 2023 revenue of $1.035 billion, up 5% reported growth or 5% excluding the impact of foreign exchange rates, above the consensus of $1.00 billion. The management expected fourth-quarter revenues of $978 million-$1.02 million.

The company posted adjusted EPS of $0.08, down 59% Y/Y, missing the consensus of $0.11 and on the lower end of the management guidance of $0.07-$0.13.

Pet Health revenue was $416 million, down 1% on both a reported and constant currency basis, with a 3% increase from price in the quarter primarily driven by continued competitive pressure on certain products in the U.S. …

Full story available on Benzinga.com